India’s HAL and BEL post record sales for FY 2020/21

July 1, 2021

from John Grevat

Hindustan Aeronautics Limited (HAL) and Bharat Electronics Limited (BEL) – India’s two largest defense companies – both have recorded record sales levels despite the challenges associated with Covid-19, new bids on the Bombay Stock Exchange show.

HAL stated that its audited and consolidated revenues for the financial year (FY) 2020/21 reached INR 227.55 billion (USD 3.05 billion) and that its net profit was INR 32.33 billion. They represent an annual increase of 6% and 14% respectively.

In its statements, BEL stated that its audited and consolidated revenues were INR 138.49 billion and its net profit was INR 20.98 billion, an increase of 10% and 15% respectively.

At the end of the financial year 2020/21, the total assets of HAL and BEL amounted to INR 518.71 billion and INR 290.53 billion, respectively. In terms of the size of their order books, HAL registered INR 806.39 billion, while BEL estimated it at INR 534.34 billion.

Commenting on its performance in the financial year 2020/21, HAL said that Covid-19 disrupted sales and supply chain efforts in the first half of the year, but that “almost normal” returned in the second half, which ended in late March. . The impact of India’s second wave of Covid-19, which launched in March and peaked in early May, will not be significant, he said.

BEL also said the pandemic had a short-term impact on its business operations and results. In 2020/21, some of BEL’s major projects include the production of software-defined radios and communication equipment, radars, sonar, torpedo lures, electronic warfare systems and network products.